Economic stability, wider tax net top government goals: Finance Minister Aurangzeb

ISLAMABAD (Dunya News) – Finance Minister Mohammad Aurangzeb said the government is focused on achieving economic stability, expanding the tax net, and ensuring effective enforcement. He highlighted that the Track and Trace system has improved revenue collection.

Speaking to a British American Tobacco (BAT) delegation, Aurangzeb said ending the boom-and-bust cycle is possible through financial discipline. He emphasized improving tax compliance, curbing illegal activities, and implementing FBR reforms, including AI-based CRM and production monitoring systems.

The minister said strict enforcement has been applied in sugar, cement, tobacco, textile, and beverage sectors, with record actions against illegal cigarette production and smuggling. Joint operations by customs, inland revenue, and provincial agencies are ongoing.

The BAT delegation stressed the need for excise duty stability and policy continuity. Discussions also covered price differences between legal and illegal products and export opportunities for Pakistani tobacco, including to Saudi Arabia.

Aurangzeb noted that competitive crop pricing and regulatory harmony are vital for export growth, and that increasing revenues is essential for financial stability. He added that constructive consultations will continue, highlighting reduced inflation and improved foreign reserves over the past two years.

The government’s long-term strategy focuses on increasing exports, especially tobacco and value-added products, to strengthen Pakistan’s economic position.